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Editor's note: This is the sixth edition of Street Smart, The Morning Context’s weekly newsletter on everything that impacts corporate India. Every Thursday, Street Smart will bring you an original, reported or analytical take on issues that have the potential to shake up the business ecosystem. Surendar here. Apologies for the delay in shipping this week’s edition of the newsletter. We wanted to wait just a while and make sense of what was probably the most spectacular part of Mukesh Ambani’s address earlier today at the Reliance Industries Ltd AGM. No, it’s not the induction of Saudi Aramco’s chairman to the board of RIL. Neither is it the JioPhone Next launch that could very well disrupt the smartphone industry. What intrigued me the most is Ambani’s push for green energy. Aviation has also been in the news this week. Jet Airways’s insolvency hearings finally moved a step ahead after the National Company Law Tribunal approved the resolution plan submitted by the Murari Lal Jalan-Kalrock Capital consortium. But it was something else that piqued our interest. Jayshree has picked an important development in …
While the filing for an IPO by its telecom and digital business was the highlight, Reliance laid out plans for its new energy and retail businesses, setting them up for eventual listings.
As India’s largest stock exchange heads to the public markets, it may need to rethink its excessive reliance on transaction revenue.
The retired banker wants India’s top companies to invest in AI. But the capital, ambition, and urgency simply aren’t there.